Put the beans in a large bowl and add cold water to cover by at least 2 inches. Soak overnight. Drain, rinse, and drain again.

Cook the bacon in a Dutch oven or large pot over medium heat. When it starts to sizzle, add the onion and cook for 2 minutes, stirring. Add the beans, 4 cups water, and bay leaves. Bring to a boil over high heat. Reduce the heat and simmer for 1 hour and 10 minutes, until the beans have softened. Remove from the heat and discard the bay leaves.

Stir in the molasses, mustard, bourbon, and salt. Return the pot to the stove and cook over low heat for 4 1/2 to 5 hours, until very tender.

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